Market Chatter: TPG, Clayton Dubilier & Rice Seek $2.5 Billion in Covetrus Debt Refinancing

MT Newswires Live01-17

TPG (TPG) and Clayton Dubilier & Rice are in discussions with private-credit firms, including Blue Owl Capital, to secure at least $2.5 billion of debt financing for Covetrus, Bloomberg reported Friday, citing people familiar with the matter.

The financing would be used to refinance Covetrus' $2 billion of existing debt and support a potential acquisition, the report said.

TPG and Clayton Dubilier & Rice are also weighing an additional equity injection into Covetrus, a veterinary-technology company, to help finance a follow-on acquisition still under negotiation, the report said.

TPG, Clayton Dubilier & Rice, Covetrus and Blue Owl Capital did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 67.90, Change: +0.63, Percent Change: +0.94

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